Transfer Inventory between two separate companies

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May 14, 2010
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Hi,

I have 3 different stores that share one warehouse. Since I do not want the accounts and other things to mix, I have decided to create 3 companies and another that holds the warehouse. I want to tranfer from the warehouse to any of the companies I want. But I am wondering what will be the journal entries that I should do. I am doing something like this and I am wondering if it is correct.

Example: I want to transfer 10 * 100 US from warehouse to store 1

In the warehouse I do :

Credit Inventory for 1000
Debit Owner's Equity for 1000


and int Store

Debit Inventory for 1000
Credit Owner's Equity for 1000
 

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